Don't You Wish YOU Could Deduct Your Hobby From YOUR Taxes?

Discussion in 'Economy' started by edthecynic, Jun 19, 2012.

  1. edthecynic
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    edthecynic Censored for Cynicism

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    Clearly there is something wrong with the tax system when rich elitists can pay for slick tax lawyers and get phony deductions like this!!! If Willard isn't an elitist, then I'd like to see the Average Joe try to deduct the cost of their hobby from their taxes and get away with it!

    Willard deducts more from his taxes for his dancing horse hobby than the average person makes in a year. Do you think this will be one of the unspecified deductions Willard will eliminate to pay for his tax cuts for the rich??? Discuss:

    http://www.nytimes.com/2012/06/17/u...m.html?_r=2&smid=tw-nytimespolitics&seid=auto

    “Folks,” Mr. Colbert said, “the image of Romney as a privileged princeling ends today, because now Mitt is just your average blue-collar fan of dressage.”

    To show it can take a joke, the United States Equestrian Federation distributed 500 foam No. 1 fingers here, a cheeky reference to a prop Mr. Colbert used in his skit as he clutched a beer bottle in his other hand and cheered, “Woo!”

    The equestrian federation even recorded spectators waggling the red foam fingers for a YouTube video it planned to offer as a “rebuttal” to Mr. Colbert. Mrs. Romney, too, put one on.

    “I think having someone like Mrs. Romney so interested in horses is certainly helpful for our sport, and we’re all very happy,” Mr. Ebeling said. “Bring it on.”

    But as Mr. Colbert’s satire suggested, the scrutiny may not be entirely a blessing for Mr. Romney’s image as a man in touch with the concerns of average Americans. As millions tune in to the Olympics in prime time this summer, just before Mr. Romney will be reintroducing himself to the nation at the Republican convention, viewers are likely to see “up close and personal” segments on NBC about the Romneys and dressage, a sport of six-figure horses and $1,000 saddles. The Romneys declared a loss of $77,000 on their 2010 tax returns for the share in the care and feeding of Rafalca, which Mrs. Romney owns with Mr. Ebeling’s wife, Amy, and a family friend, Beth Meyers.
     
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  2. Stephanie
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    Stephanie Diamond Member Supporting Member

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    well instead of whining about it, contact your Representatives and BITCH at them about it..

    or bore us to death with it.
     
  3. California Girl
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    California Girl BANNED

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    Damn, EdTheHack really hates successful people. :lol:
     
  4. Oddball
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    Oddball BANNED Supporting Member

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    Do we need the WAAAAAAmbulance? :lol:
     
  5. Truthmatters
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    can I write off the cost of my dogs as a hobby?

    gardening?

    I guess if I pretend its a business that is losing money I could.
     
  6. Truthmatters
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    Poor Mrs robmoney just cant seem to get her horse business to make money.
     
  7. California Girl
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    Have your dogs qualified for the Olympics?
     
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  9. Ernie S.
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    Ernie S. Platinum Member

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    Cabinet members, or those nominated for the obama cabinet that have had tax issues:

    Timothy Geithner
    Kathleen Sebelius
    Tom Daschle
    Nancy Killefer
    Bill Richardson
    Hilda Solis
    Ron Kirk
    Susan Tierney
    Jane Garvey
    Annette Nazareth
    Caroline Atkinson
     
  10. edthecynic
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    edthecynic Censored for Cynicism

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    Do all olympians get to deduct their expenses from their taxes?
     

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